Benchmark lowered the firm’s price target on Sirius XM (SIRI) to $32 from $43 and keeps a Buy rating on the shares following the company’s “disappointing” 2025 guidance released yesterday morning, including an anticipated revenue decline. However, a Buy rating is still supported by the company’s “credible ambition” for generating $1.5B in 2027 free cash flow, supported by a further $200M in annualized cost savings exiting next year, the analyst tells investors.
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Read More on SIRI:
- Sirius XM downgraded to Neutral from Buy at Seaport Research
- Dissapointing SiriusXM (SIRI) Revenue Guidance Shatters Investor Confidence
- Sirius XM Appoints New COO and Updates Strategy
- Sirius XM expects to reduce its debt by approximately $700M in 2025
- Sirius XM targets incremental $200M of annualized savings exiting 2025